Daewoo Shipbuilding and Marine Engineering Co Ltd aims to grab half this year's 15 to 20 orders for Liquefied Natural Gas (LNG) carriers, strengthening its lead in the higher end of the shipbuilding market, the company said on Monday. Company officials reportedly said that Daewoo was expected to sign a $500 million deal to build an offshore fixed platform in Angola in April. The price for an LNG carrier is about $160-$175 million, about twice the price for a 300,000-ton class very large crude carrier (VLCC). In 2001, Daewoo Shipbuilding secured 10 of the 29 new liquefied natural gas carrier orders placed worldwide. Company officials said the overall market still looked tough after excessive orders in 2000, but Daewoo's upperhand in LNG and offshore engineering projects would help push the shipbuilder's order backlog to $9 billion by the end of the year from $8.5 billion. -- (Reuters).
Cheniere Energy Partners' subsidiary Sabine Pass Liquefaction signs a LNG sale and purchase agreement with Total Gas & Power North America. Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on the Sabine Pass Channel in western Cameron Parish, Louisiana. The Sabine Pass LNG terminal has regasification and send-out capacity of 4.0 billion cubic feet per day (Bcf/d) and storage capacity of 16.9 billion cubic feet equivalent (Bcfe).
No improvement in the market and no change in the behaviour of South Korean yards, says fifth Commission report on world shipbuilding The world shipbuilding market continues to face serious difficulties, while certain South Korean yards are still pricing ships below cost, notes the European Commission's latest (fifth) report on world shipbuilding, adopted today. World ship prices are still being depressed by excess supply, due to past expansion of yards mainly in Korea
As Cargo, Fuel or both; LNG is emerging as the clear and clean way forward for the maritime industry. • In the Beginning The use of LNG as a marine fuel is not new. Vessels trading cryogenic LNG have burned boil-off natural gas in steam boilers for many years as a simple solution to maintaining necessary temperatures and pressures within cargo spaces
Britain's BG Group Plc agreed to buy two new liquefied natural gas (LNG) ships from South Korea's Samsung Heavy Industries Co. Ltd. with an option for six more ships. BG said the price of the ships was commercially confidential but was less than three percent of BG's market capitalization -- which currently stands at 9.4 billion pounds ($13.3 billion). - (Reuters)
The gas and power division of Royal Dutch/Shell ordered two additional liquefied natural gas (LNG) carriers to support its growing global LNG business. Shell International Gas Limited ordered a membrane-type carrier from South Korea's Daewoo Shipbuilding & Marine Engineering and a moss spherical tank carrier from Japan's Mitsubishi Heavy Industries. Shell did not disclose the price for the orders, but industry sources said the market level for a typical LNG carrier was around $175 million.
Golar LNG Limited announced a major restructuring combined with an intent to conduct an equity offering in its newly formed subsidiary, Golar LNG Energy Limited. Consistent with the announcement made in Golar's first quarter report, Golar has incorporated Energy in Bermuda for the purpose of transferring such part of its asset portfolio which is not employed on long term charters to this entity. The transfer will include the following assets and activities:
South Korean shipbuilders are profiting more than ever from selling high-value units such as offshore plants and liquid gas carriers, according to a Korea Times report. Daewoo Shipbuilding and Marine Engineering has already won a record-high $7 billion in building orders this year. Such high performance was largely affected by the sales of four offshore oilrig units, which amounted to $1.9 billion in total. The company also has recorded steady sales of LNG carriers
DNV now offers shipowners the support they need to make newbuilds and existing vessels LNG ready with class approved designs, ready for later, simple retrofit of LNG technology. The service enables shipowners to make smart choices and minimal investments now in readiness for when LNG bunkering becomes widely available. Shipowners are supported through all stages of the decision-making process as they prepare to meet the IMO air emission regulations entering into force from 2015
MAN B&W Diesel A/S launched the ME-GI engine, a range designed for the highly specialized LNG carrier market. The design builds on experience gained from the earlier MC-GI engines combined with the developments in the latest electronically controlled ME engines. The manufacturer is touting the combination of low installation and running costs for this highly specialised type of vessel makes the adoption of the dual fuel ME-GI engine from MAN B&W very attractive for owners and operators.
Drydocks World said that Floating Storage Re-gasification Unit (FSRU) Toscana sailed away from Drydocks World – Dubai. The unit, formerly the 138,830-cbm LNG carrier Golar Frost, has been under conversion since June 2009 at Drydocks world Dubai yard for contractor Saipem and
The IMO (International Maritime Organization) has chosen DNV to gather knowledge about the potential of LNG powered international shipping in the North American Emission Control Area (ECA) and identify the necessary conditions for the successful implementation of LNG as a fuel source in the region
Trans Arctic Shipping Routes (TASR) It is time for the global maritime industry to push development of Trans Arctic Shipping Routes (TASR) and port facilities along Alaska’s northern coast. Not only for shipping goods from the Pacific to Atlantic and vice versa
Further ordering activity seen in the tanker market in the period up to 10, June 2013, according to Clarkson Hellas Weekly S+P report. Clients of Consolidated Marine Management have contracted three firm 115,000 DWT LR2s at Hyundai Samho. Understood to have been signed earlier this year
The first cargo was sold to Angola's state oil & gas company and is currently being shipped to Brazil by the LNG carrier 'SS Sonangol Sambizanga', one of seven 160,000 m3 LNG vessels that are under long-term charter to the Angola LNG project.
Teekay LNG Partners signs two, 5-year time-charter contracts with Cheniere Marketing to provide Liquefied Natural Gas (LNG) transportation services. The fixed-rate time-charter contracts will be serviced by the two 173,400 cubic meter LNG carrier newbuildings ordered by Teekay LNG in December
Tsakos Energy Navigation Limited (TEN), a product, crude and LNG tanker operator, announced two-year plus one year fixtures at charterers option with minimum rate provisions, for two MR product tankers to a major international end-user. The new charters should generate gross revenues of $22
Linde North America will be presenting a paper at the first annual LNG for Marine Transportation USA conference. The event will focus on how to build an LNG fuel supply chain for the Marine Market. It is being held in Houston, Texas, on June 11-12, 2013
Harvey Gulf International Marine CEO, Shane Guidry, announced that Harvey Gulf has secured plans to construct and operate the first LNG marine fueling facility in the United States, to be located at its vessel facility in Port Fourchon, La. The fueling facility will be a vital addition to the
NLI Solutions (NLI) has developed a concept for a LNG Bunker Barge (often described as the 'missing link' in prospective LNG bunkering plans) based on the NLI LNG tank design. The concept has been further developed in a design study together with the Marine division of Rolls-Royce and Wilhelmsen
Dubai's Drydocks World & Maritime World chairman in discussions with DNV group CEO on mutual opportinities in shipping. Chairman H.E. Khamis Juma Buamim held discussions with DNV Group Chief Executive Officer, Henrik O. Madsen at DNV headquarter in Oslo, Norway
TOTE, Inc. became the first U.S. company to take home the 'Next Generation Shipping' award at the recent Nor-Shipping 2013 expo. The Nor-Shipping 2013 Awards recognize achievement in three different but very important areas – energy efficiency
Lloyd’s Register published a rule set to guide the design, construction and operation of floating liquefied natural gas (FLNG) facilities – the biggest, most complex floating structures ever seen – meaning natural gas will now be safer
With the number of vessels using dual fuel/LNG propulsion systems growing steadily, Autronica Fire and Security is focusing on the importance of gas detection in this sector during Nor-Shipping 2013. LNG as a fuel can provide lower bunkering costs and emissions
Rolls-Royce congratulated the Norwegian Ship Owner and Ferry operator Fjord Line on the environmental efficiency award presented to the two passenger ferries Stavangerfjord and Bergensfjord during the Nor-Shipping exhibition in Oslo. The two ferries will be the first international service